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Below are tables showing the estimated launch dates for all the sale sites next year.

Residential sites on the confirmed list

Residential sites on the reserve list

Annex B
Who is hottest in Sub-sales

Icon has consistently been one of the top two developments in terms of sub-sales this year.  Its median sub-sale price went up 26% quarter-on-quarter to $1,495 in the third quarter. So far this year, 512 units in Icon have been sub-sold once.

The other hot candidate for sub-sale is The Sail @ Marina Bay which saw median sub-sale price going up by 21% quarter-on-quarter to $2,093 psf.  So far this year, a total of 370 units at The Sail have been sub-sold.

One-north Residences also registered a significant number of sub-sales, probably due to the allure of a ‘Silicon Valley’ look-alike culture of the R&D hub and the promises of high rental.

Annex C
Who is AEW

AEW and its affiliates manage more than US$41 billion of real estate assets and securities in North America, Europe and Asia. The group set up an office in Singapore in April as a base from which to expand in the region.

Office rents in the city fringe area are about $8.00 psf per month (psf pm) while retail rents range from $8.00 to $8.50 psf pm.

Annex D
What has Goldman been up to

Goldman has been very busy of late buying up prime office buildings in the central business district. In August this year, it purchased Chevron House at Raffles Place from CapitaLand for $730 million or $2,780 psf of NLA.

It is also expected to purchase the adjacent Hitachi Tower from CapitaLand for around $3,000 psf, or about $840 million.

Thanks to foreign funds such as Goldman Sachs, investment in Singapore's office sector has seen an astonishing $14.9 billion worth of transactions so far this year -  three times the sales figure for the whole of last year.

The severe constraints in demand/supply situation have pushed prime office capital values to nearly $3,000 psf from about $2,000 psf at the start of this year.

Annex E
Summary of foreign participation in buying of commercial buildings

In April this year, TSO Investment, a unit of a CLSA Capital Partners-managed property fund, sold SIA Building at Robinson Road to European pension fund manager SEB for about $1,780 psf of net lettable area.

In September, SEB also bought 12 floors at Springleaf Tower in the Anson Road area at $2,088 psf of net lettable area.

In October, Allco Commercial Real Estate Investment Trust acquired KeyPoint in the Jalan Sultan/Beach Road area for $370 million or $1,186 psf of net lettable area. The deal includes income support of up to $10.5 million for two years to be provided by the seller.

In August, a Goldman Sachs-linked fund bought Chevron House (formerly Caltex House) along Raffles Place for $2,780 psf, a record for an office block here. The tenure of land on which Chevron House stands is 99-year leasehold with a remaining lease of about 81 years.

The Goldman Sachs group is also expected to finalise the purchase of Hitachi Tower early next year for about $3,000 psf. Hitachi Tower is just next to Chevron House and facing Collyer Quay.

Hitachi Tower has a 999-year leasehold status. The value of Hitachi Tower is higher than Chevron House also because it is not limited by rental caps for Chevron's lease. It is unlikely that in the near-term, rental value at Chevron House would have any upside.

Prepared by Sam Gian – Independent Real Estate Sales Trainer